Castrol, Cello World, New India Assurance, Deepak Nitrite shares surge amid spike in volumes

The Indian equity benchmarks were trading on a mixed note in noon deals on Wednesday, August 5. The SENSEX, which rose as much as 626 points, gave up most of its gains while the NIFTY50 index touched an intraday low of 24,561 after hitting an intraday high of 24,678 dragged down by losses in heavyweights like HDFC Bank, Reliance Industries, Tata Consultancy Services and Bharat Electronics.

As of 12:14 pm, the SENSEX was up 170 points at 78,599 and NIFTY50 index declined 43 points to 24,572.

Cello World

Trading volume in the stock jumped by 65.9 times to 94.54 lakh shares on the National Stock Exchange (NSE) compared with an average volume of 1.43 lakh shares.

As many as 6.71 lakh shares change hands on the BSE compared with an average of 15,000 shares traded daily in the past two weeks.

New India Assurance

Shares of the general insurance company advanced as much as 10% to touch an intraday high of ₹189, mirroring gains in other insurance companies after Supreme Court extended the mandatory third-party insurance coverage of new vehicles by a year.

Trading volume in the stock jumped by 23.6 times to 2.65 crore shares on the NSE compared with an average volume of 11.25 lakh shares.

A total of 11.68 lakh shares changed hands compared with an average of 67,000 shares traded daily in the past two weeks.

Deepak Nitrite

Shares of the specialty chemicals maker surged as much as 7.84% to hit an intraday high of ₹1,850 after its net profit in June quarter more than doubled to ₹65 crore from ₹30 crore in the same period last year.

Its revenue from operations advanced 32% to ₹807 crore at the end of first quarter from ₹612 crore a year earlier.

Trading volume in the stock jumped by 15.9 times to 24.47 lakh shares compared with an average volume of 1.53 lakh shares on the NSE.

A total of 1.67 lakh shares were traded on the BSE compared with a two-week average of 14,000 shares.

Go Digit General Insurance

Shares of the private sector general insurer advanced as much as 10.5% to hit an intraday high of ₹291, mirroring gains in other insurance companies after Supreme Court extended the mandatory third-party insurance coverage of new vehicles by a year.

Trading volume spiked by 8.8 times on the NSE to 59.56 lakh shares compared with an average volume of 6.76 lakh shares.

As many as 4.24 lakh shares changed hands compared with an average of 2.23 lakh shares traded daily in the past two weeks.

Castrol India

Shares of the country's leading lubricant oil maker advanced as much as 4.25% to touch an intraday high of ₹195 after it reported a net profit of ₹348 crore in the first quarter of current financial year, marking an increase of 43% from ₹244 crore a year earlier.

Its revenue from operations advanced 25% to ₹1,871 crore from ₹1,497 crore in the same period last year.

Trading volume in the stock jumped by 8.3 times to 1.16 crore shares compared with an average volume of 14 lakh shares.